Refai is leveraging AI technology to streamline mortgage processes.
This platform uses AI to propose strategies that can reduce mortgage terms significantly and lower interest payments, potentially saving homeowners up to $100,000 or more over the lifetime of their loans.
By employing AI, Refai analyses numerous reduction strategies that could shorten loan durations and decrease interest expenses. This approach is timely as homeowners cope with variable property prices and interest rates.
A recent survey found that 60% of Australian home loan holders regret their mortgage choices, primarily due to poor preparation for interest rate hikes. Additionally, Roy Morgan reported that nearly 29% of Australian mortgage holders are currently at risk of mortgage stress.
Refai’s AI tools are crafted to help homeowners proactively manage their mortgages and adapt to economic shifts, addressing significant concerns among Australian mortgage holders regarding their preparedness for interest rate increases.
Refai’s platform automates complex financial calculations, enhancing decision-making efficiency for users and financial advisors alike. It assesses vital financial information to deliver personalised insights, helping users and advisors make informed financial decisions.
Designed for ease of use, Refai’s platform can be set up in minutes and provides clear visual data that helps homeowners quickly identify financial opportunities, the company said. It also facilitates easy access to rate reviews and connections with licensed mortgage brokers.
Read the Refai media announcement here.
